China Energy's $2b HK IPO may not air until 2016

Another Chinese state-owned enterprise is targeting a Hong Kong listing as the government moves to introduce private capital to enhance efficiency.

China Energy Engineering has taken the first step to launching an initial public offering in Hong Kong, having filed a listing application last week, but shaky markets might make it difficult for the deal to go through any time soon.

A source familiar with the company said the power construction giant is targeting as much as $2 billion from the IPO but that a listing towards the very end of the year or in the...